Match Each of the Following Calculations with Their Corresponding Variance

question 38

Multiple Choice

Match each of the following calculations with their corresponding variance.
-Labour efficiency variance

• A)Actual quantity × actual price
• B)(Actual hours × actual rate) - (standard hours × standard rate)
• C)(Actual quantity × actual price) - (standard quantity × standard price)
• D)(Actual hours - standard hours) × standard rate
• E)(Actual price - standard price) × actual quantity
• F)Standard quantity × standard price
• G)(Actual rate - standard rate) × actual hours
• H)(Actual quantity - standard quantity) × standard price

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Definitions:

Operating Activities

The day-to-day functions of a business related to producing and selling its goods or services, which are reflected in its cash flow.

Investing Activity

Transactions and events that involve the purchase and/or sale of long-term assets and other investments, as shown in a company’s cash flow statement.

Income Statement

A financial document that reports a company's revenues, expenses, and net profit or loss over a specific period of time.

Cash Flows

The total amount of money being transferred into and out of a business, especially affecting its liquidity.